About 6.4 crore transactions FASTag transactions worth Rs.1256 crore was processed in December as against 3.4 crore transactions worth Rs.774 crore in November, the latest National Payments Corporation of India (NPCI) data released on Wednesday showed. A total of three crore 3.1 crore transactions worth Rs.703 crore in October was processed.
As the next generation comes in with different attitude, are public sector banks equipped to serve them?
Insider traders use unpublished price sensitive information to their advantage.
Nearly 43 percent of the 1246 startup participants said that Families & friends were their largest source of funding.
Finance Minister Nirmala Sitharaman on Saturday said that the zero MDR regime would kick in once the Department of Revenue issued a gazette notification on January 1. Top industry players say Centre’s decision on not levying merchant discount rates will make the business model unviable.
As a percentage of claims, banks recovered on average 42.5% of the amount filed through the IBC in the financial year 2018-19, against 14.5% through the Sarfaesi resolution mechanism, 3.5% through Debt Recovery Tribunals and 5.3% through Lok Adalats. Against Rs 1.66 lakh crore claims involved under IBC, the recovery was Rs 70,819 crore.
Non-bank lenders and home financiers are not relying on commercial papers to raise funds after IL&FS defaulted last autumn. The wreck in the financial system prompted mutual funds and asset management companies to restrict their exposure to these categories of financiers. Asset managers increased their share of Certificates of Deposit to 15.6% from 11.9%.
The central bank may also soon introduce new payment umbrella organizations to compete with NPCI.
In Singapore, the rejection rate for the regulatory sandbox project was as high as 90 per cent.
Transactional services have come to a halt, and merchants are finding it hard to conduct business.
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